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View Full Version : Stocks sink as DuPont, Xerox, 3M scare investors



roadmaster
10-24-2012, 05:50 AM
http://www.wral.com/stocks-sink-as-dupont-xerox-3m-scare-investors/11693069/

Nobody was expecting this round of corporate financial reports to be great. But underwhelming results — particularly revenue, which offers a read on the economy — are still rattling investors. The Dow Jones industrial average plunged Tuesday to its lowest level in nearly seven weeks. Big-name companies reported weak quarterly revenue and lowered their forecasts for the rest of the year.

Chris
10-24-2012, 09:17 AM
The election will come down to how well the economy is doing. It doesn't look good for Obama.

Bane
10-24-2012, 01:40 PM
A big sell off yesterday due to 3Q earnings.

I jumped on a stock today.

Facebook opened up 24% on ad revenues, eventhough they were flat everywhere else.

Good thing about a big down day is that stocks become oversold, which means its time to move back up towards overbought. That = $$$$$

waltky
10-24-2012, 04:37 PM
Stocks Flat After Fed Announcement...
:sad:
Stocks Finish Red After Notes From Fed
10/24/12 --- The major U.S. stock averages settled lower in afternoon trades Wednesday, after earlier gains, following the Federal Reserve's policy announcement, the release of upbeat domestic housing market and Chinese economic data, and a handful of positive earnings results.


The better-than-expected new-home sales report for September generated lukewarm reception among economists and provided a boost to various homebuilder stocks such as Lennar and KB Home, both finished up more than 1%.

On the earnings front, Facebook, the social networking giant, posted its best one-day gain since its public debut in May, up 19% at final check, after the company posted third-quarter earnings that slightly beat Wall Street estimates and indicated it is making solid progress on a strategy to profitably transition users to mobile devices.

Meanwhile Boeing shares dipped 0.15% after the Dow component hiked its full-year outlook after booking third-quarter earnings of $1.35 a share, better than the average analyst estimate of $1.13 a share, as business heated up at its commercial airplane and defense units.

Revenue came in at $20 billion versus the expected $20.03 billion. The Dow Jones Industrial Average fell 25 points, or 0.19%, at 13,077. The blue-chip index started the session up over 7.5% in 2012.

MORE (http://www.thestreet.com/story/11746619/1/stock-market-story-oct-24.html?puc=unitedonli&cm_ven=UNITEDONLI)

See also:

5 Good Signs for the Economy in 2013
10/24/12 --- U.S. Bankers see an improving housing market, and a stronger economy in 2013, but only incrementally so.


Specifically, The Mortgage Bankers Association takes an across the board look at the U.S. housing market, and does so in a thorough and forward-looking forecast published on the MBA's web site.

There forecast has no shortage of insights. For instance, the U.S. has added 4.8 million renters since 2008, and has lost 1.7 million homeowners. The association also has a few predictions for 2013 related to the housing market -- predictions that suggest the housing market specifically, and the U.S. economy in general, should see more slivers of sunlight in 2013 than in 2012.

Here's a snapshot from the MBA:

There will be more U.S. mortgage originations. The MBA expects $1.3 trillion in mortgage originations in 2013, mostly stemming from homeowner refinances in the first six months of the new year. It also has revised its 2012 mortgage origination estimate upward, to $1.8 trillion. "We expected 2012 originations to be front-loaded in the first half of the year, with refis falling off with rate increases," explains Jay Brinkmann, MBA's chief economist. "Instead we saw the refinance market grow during the year due to a combination of low rates, thanks to QE3 and slowing global growth because of continuing problems in Europe, and adjustments in the HARP and FHA refinance programs. We expect 2013 refinance originations to play out like our original expectations for 2012, with a long tail of refis extending through the first half of the year followed by a rapid drop-off in the second half."

There will be more home purchases. (http://www.thestreet.com/story/11746855/1/5-good-signs-for-the-economy-in-2013.html?puc=unitedonli&cm_ven=UNITEDONLI)